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Stephen Colbert shuts super PAC. Where did the money go?

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Colbert showed how this all works on Monday night’s show. He had on Trevor Potter, former head of the Federal Election Commission (FEC) and Colbert’s personal election lawyer. Mr. Potter showed him how to donate a check from the super PAC to an existing 501(c)(4) nonprofit organization, which then forwarded the money to a new secret 501(c)(4), where it essentially disappeared.

Colbert illustrated this by actually writing the check, passing it through an open-ended manila envelope (existing 501(c)(4)), then putting it in a locked wood box (new secret 501(c)(4)). He waited a beat and then reopened the locked box.

The check had disappeared.

“So what do I have to tell ... the IRS about what happened with the money?” Colbert asked Potter.

“Nothing,” said Potter.

Colbert smiled like he was a Grinch in the midst of stealing Christmas. “Well, Trevor, thanks for nothing,” he crowed.

As far as we can tell, this wasn’t just an act. Colbert’s super PAC actually filed a termination report with the FEC on Tuesday, and if you scroll down you can see that it lists an outflow of $7.73 million as “other disbursements.” That’s the money that the super PAC was sitting on, going ... somewhere. Of which we know not.

Maybe Colbert’s donors should demand their money back. He wouldn’t have to give it to them. But we bet Colbert’s evil archrival, Jon Stewart, could turn that into a funny running bit.

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